Customers can now grow their wealth from the comfort of their home with fuss-free online purchase
SINGAPORE - Media
OutReach - 13 April 2020 - Etiqa Insurance
Singapore announced the launch of a new short-term endowment plan with
attractive guaranteed maturity returns of 2.10% per annum to help customers
safeguard and grow their hard-earned money amid global economic impacts of the
COVID-19 pandemic.
Tiq 3-Year Endowment Plan
is a non-participating policy that guarantees customers with 106.43% returns1
on the single premium upon a short maturity period of 3 years. Available online
for a limited tranche only, it offers a simple and smart way to save for the
short-term. In addition to its attractive returns, Tiq 3-Year Endowment
Plan includes a life protection benefit
of 101% of the single premium. Customers who sign up for the endowment plan
will also be eligible for the Financial
Assistance Benefit2 for COVID-19.
"In today's uncertain climate, the topic of financial
security is more important than ever. Etiqa stays committed to helping people
maintain their lifestyles, protect their assets and work towards their
aspirations, and we do so by keeping their interests at heart, creating
products and solutions that are simpler and more personal, yet relevant to their
needs, so they can live their lives to the fullest today while saving towards a
better tomorrow" said Sue Chi Kong, Chief Executive Officer, Etiqa Insurance
Singapore.
Last year, a survey found that over 60 per cent of
Singapore's millennials save at least 20 percent of their salary. On average,
most respondents including the millennial demographic kept about half of their
assets as cash in savings accounts. Endowment plans, also known as insurance
savings plans, represent an alternative financial instrument for individuals to
grow their wealth and enjoy life protection, often without the requirement of a
medical check-up.
The timely introduction of Tiq 3-Year Endowment
Plan follows closely upon the heels of
Etiqa's recent campaign that encourages Singapore residents to re-evaluate
their level of preparedness in times of crisis. The progressive digital insurer
has been rolling out several initiatives such as free COVID-19 and dengue fever
cover since the coronavirus outbreak.
Tiq 3-Year Endowment Plan
by Etiqa can be purchased online with ease at www.tiq.com.sg. Availability is limited. For more information, please visit: https://bit.ly/34oBaRp
1 Terms apply. Protected up to specified limits by SDIC.
2
The Financial
Assistance Benefit is provided to all existing and new Insured Person but the
benefit is not payable if diagnosis is within 14 days of policy issuance or the
Insured Person shows symptoms of the virus strain and is suspected to have
contracted the Novel Coronavirus (COVID-19) before 13 February 2020. Etiqa
reserves the discretion to make amendments to the benefits and its validity at
any time.
Etiqa Insurance – A Singapore Insurance Company with Asian and International Expertise
Protecting
customers since 1961, Etiqa is a licensed life and general insurance company
registered in the Republic of Singapore. We are regulated by the Monetary
Authority of Singapore (MAS) and governed by the Insurance Act.
With a
comprehensive suite of protection, savings, retirement and legacy planning
solutions, we are committed to helping our customers plan for a better future.
Rated 'A' by Fitch in April 2019 for our financial strength and stable outlook,
we humanise insurance by placing people over policies.
Etiqa is owned
by Maybank Ageas Holdings Berhad, a joint venture company that combines local
market knowledge with international insurance expertise. The company is 69%
owned by Maybank, the fourth largest banking group in Southeast Asia, and 31%
by Ageas, an international insurance group with footprints across 16 countries
and a heritage that spans over 190 years.
